NovaGold Resources (NG) is a precious metals company engaged in the exploration and development of mineral properties situated principally in Alaska and British Columbia. This stock has been hammer in 2011 with shares off by around 31%. That said, shares are starting to breakout today and could be preparing for a sharp move higher.
52-Week Range: $5.93-$16.90Today's Volume: 1.16 million Three-Month Average Volume: 3.41 million NovaGold Resources has a market cap of $2.32 billion and an enterprise value of $2.24 billion. Their estimated growth rate for this year is 91.30% and for next year it's pegged at -237.50%. The current short interest as a percentage of the float for NovaGold is notable at 6.8%. >>20 Top-Yielding Metals & Mining Stocks From a technical standpoint, this stock is starting to trigger a major breakout today as shares push above some past overhead resistance at $9.50 a share. Traders should look to play this breakout with a mental stop just below $9.50 in case it fails. Target a run back towards $10.82 (its 200-day moving average) and then $11.55 a share, which is the next significant overhead resistance level.
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